Avalanche gains 7% as activity rises

• Avalanche (CRYPTO:AVAX) gained nearly 7% in 24 hours after briefly reaching US$6.92 before easing to US$6.79.
• Securitize distributed US$976 million of assets on Avalanche, up 123% over the past 30 days.
• Network activity also includes the Helicon upgrade and Progmat’s migration of more than US$2.7 billion in tokenised assets.

Avalanche (CRYPTO:AVAX) gained nearly 7% in 24 hours, briefly reaching US$6.92 before easing to US$6.79.

The token gained more than 5% weekly as several developments increased activity across the Avalanche ecosystem.

“What happens next will define the broader structure,” said market analyst The Boss.

Securitize distributed US$976 million of assets on Avalanche, representing a 123% increase over the past 30 days.

Avalanche's stablecoin market value stands near US$1.5 billion, while the network has 9,218 real-world asset holders.

Progmat moved more than US$2.7 billion of tokenised assets onto Avalanche after migrating from a private Corda-based ledger.

Avalanche's Helicon upgrade reached the Fuji Testnet on 28 July, adding transaction, staking and fee-pricing changes.

At the time of reporting, Avalanche price was $6.69.